“can i buy a house?” how to sell your house and more… ask michaelrosenblum anything
- What is the benefit of buying today instead of renting? Today’s benefit is that interest rates are at an all time low and housing pricing are, too!
- Can I buy a house? Yes, you will need cash for a down payment, good credit and a monthly income. You should begin by meeting with a mortgage broker to obtain a pre-approval letter and determine what you can spend for a home.
- What are the other costs outside of my mortgage that I should be aware of? Chicago Transfer Stamps, title fees and other detailed costs that your mortgage broker, by law, will provide to you. This document is called a Truth in Lending Statement.
- How do short sale and foreclosure purchases work? The closing seems to take a bit longer, but you should consult Michael for more details as each deal can be different depending on the property and what stage of the foreclosure or short sale process it is in.
- How quickly can you get me into a home? Quickly…depending upon the term points of the contract that is written.
- When am I committed to working with you? As a buyer: when you sign the buyer representation agreement. As a seller: when you sign our listing agreement.
- As a home seller, how do you typically advertise my home? How to sell your house is what makes Michael’s marketing program unique and successful. We craft a business-to-business and business-to-consumer platform that reaches the audience who should be viewing your home. This involves environments on the internet, in the print medium and event marketing.
- How can I prepare to show my home? Upon listing with Michael, we explain and assist with how the home should be staged in order to reduce or eliminate your stress level.
- How accessible are you? I am always available to you and always committed to the task at hand – that is one huge characteristic that separates me from the masses.
- What is Chicago’s pet requirement for condo buildings? The City of Chicago ordinance is TWO pets per unit.
- What are Homeowner Exemptions? Great question: many owners don’t realize they are losing this deduction each year on their property tax bill. The Homeowner Exemption offers a reduction on your property taxes for your principal residence if you own in the year of question. If you are entitled and have not yet taken your exemption, you can claim for any back amount. For detailed information, call the Taxpayer Services Department at (312) 443-7550.
- Is there temporary housing until I can move into my new home? Yes, we always have a list of places that you can rent by the week, by the month or even longer. These executive-style apartments are fully equipped with a kitchen, bath and bedding so all you need is a toothbrush and your clothes. We can recommend a great mover who will pack and store your personal belongings whilst you are living in temporary housing.
- What is the minimum down payment when making a purchase? This solely depends on your credit score, income level and purchase price. In today’s market, typical (but not guaranteed) would be 20%.
- I already own a property; can I qualify without selling my current home? This solely depends on your credit score, income level and purchase price.
- I can only afford to renovate one room. Which room would you suggest first? Definitely the kitchen.
- What are inexpensive renovations I could make throughout my home? Installing a new toilet or sink in the bathroom.
Is your question not on the list? Please fill out the form on the right column or give us a call; we are more than happy to help you.
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